Lending Solutions, Inc. has named Lee Kolquist as its new CEO, replacing interim CEO Mark Johnson. Kolquist has been with LSI in May of 2002 as vice-president of corporate strategy after a 16-year career at Stewart Associates, Inc.-CUNA Mutual Group. Along with Kolquist, Mike Karst has been named VP-systems and technology; Karst had been head of IT at the Stewart Associates Division of the CUNA Mutual Group. Johnson will remain chairman of the company.
Federal Reserve Vice Chair for Supervision Michelle Bowman played down the significance of Kraken Financial receiving a master account, saying the central bank is treating it as a pilot program.
Glen Herrick, a veteran bank director, penned a resignation letter criticizing the West Virginia company's executive-compensation policies and what he described as a failure to focus on core profitability.
With an application for a U.S. bank charter, the global super app provider aims to expand its offerings and compete with established domestic challengers.
Panelists at a JPMorganChase webinar said oil shipping security is shaky, creating risk of a new wave of inflation that would impact energy finance. Other analysts said the war will create pressure for some parts of the payments industry.
The bank exited the $1.95-trillion asset cap last year, but it had remained subject to the rest of the eight-year-old order.
While this only shows a 2-basis-point rise in the 30-year fixed since last week, the Lender Price product and pricing engine data is 30 basis points higher.
